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Dow hits new high

Sure there is a war going on, with a heavy cost in blood and treasure, the dollar fell to all-time lows, energy prices are extremely high worldwide, and the subprime mortgage market shows critical signs as housing markets droop. The Dow Jones Industrial Average, anticipating a cut in interest rates, reacted today with another large gain of 1.38% to close at an all-time record price of 14,087.55, as reported by the Associated Press.

Our economy is fundamentally strong. Once speculation-driven commodity prices return to normal levels, an extended period of steady, non-inflationary growth is ahead.

Memo to Democrats: recall Bert Lance's advice that "If it ain't broke, don't fix it."


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Comments (10)

Yo idiot. ... (Below threshold)
civil behavior:


Yo idiot.

The economy is imploding at the 90% and less income level at a rate never seen before in my half century plus.

You might want to get out and press the flesh with the guy who lives this nightmare instead of holed up in your palace.

And if you're not a palace owner then you're downright out of touch and part of the 30% deadenders of the new dumbed down america.

CBWrite something co... (Below threshold)

CB
Write something coherent, even if it's at the high school level.

This economy is strong for reasons you would never comprehend: distributed credit risk, strong real growth in spite of government induced commodity price increases (read ethanol), a falling deficit and strong consumer demand, strong employment, and a healthy equity market.

CB, a bad economy looks like 1977- 1982. Look it up.

Hooverville!... (Below threshold)
John F Not Kerry:

Hooverville!

There is too much emphasis ... (Below threshold)
jpm100:

There is too much emphasis on the Stockmarket in assessing the economy. The rest of the economy overall appears to be doing alright.

However, the Stockmarket is one portion of the economy. It is not THE economy.

Fake paper......we LOVE f... (Below threshold)
civil behavior:

Fake paper......we LOVE fake paper.

More please. More fake paper.

Gross overbearing debt in all circles.

Burdensome, huge debts.

And the world is backing away slowly but ever so surely.

Welcome to the real world.

cb ~ You're pretty funny.<... (Below threshold)

cb ~ You're pretty funny.

I'm afraid some people take you seriously, though, and that's why they think you're stupid.

Jim, I"m thrilled ... (Below threshold)
civil behavior:

Jim, I"m thrilled to know you think I'm funny. It was my intent to provide you with such mirth.

Of course, No one should take the rise in gold to $750 an oz or the parity with the Canuck dollar or rise of the euro to 1.40plus.

None of that will affect our boundless economy built on the reams of paper being shot through the presses while food, gas, fuel and utility prices shoot through the roof.


Nope, no worries here. Just keep on printing. Ink is cheap.


Ah, a Howard Ruff fan . . .... (Below threshold)

Ah, a Howard Ruff fan . . . and I thought they all went broke in the '80s, when the last speculatory bubble burst.

I've never understood why p... (Below threshold)
John S:

I've never understood why people think the Dow Jones Industrial Average -- consisting of 30 multinational companies -- has anything to do with the health of the U.S. economy. It's not like anyone in the U.S. still has a job with any of these companies. I'd say the Dow is a better indicator if of China's or India's economy.

So take a look at the S&P 5... (Below threshold)
SPQR:

So take a look at the S&P 500 instead, John:
http://finance.yahoo.com/q/bc?s=%5EGSPC&t=1y

Its just 9 pts off its 52 week high and close to record high territory for the first time since the Tech Bubble ended.




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